To detract from the horror of the markets and the fact that this post is slightly late again (mouse meltdown), we'd like to highlight some new research suggesting that if your bonus was small and you are struggling to afford lunch from Pret a Manger, it is not the fault of your adult self: a study by Essex University shows that popular children - measured in terms of peers who said they were their best friends- earn more. Every additional friend at school means an extra 2% of adult income. It is not clear whether you can make amends by befriending lots of people in your 30s.
UKFI rejects Lloyds bonuses (Telegraph).
Some salaries at UBS are being raised to about 300k (CNBC).
"We strongly believe that the industry must respond to the requirement for a more sober and reasonable approach to compensation." (Telegraph).
Obama' tax whack on people making more than $250k. (CNN).
Goldman partners strapped for cash courtesy of Buffett. (The Times).
Goldman and JPMorgan Caz will make $500m advising HSBC. (Bloomberg)
Deutsche says it's selectively hiring in FX technology. (Financial News)
Deutsche's heads of distressed debt trading leave. (Bloomberg)
Merrill clears out Russian bankers. (Wall Street Journal)
More people go boutique. (DealBook)
MI5 alert on bank riots. (Daily Express)
Protesters hang effigy of a banker. (Thisismoney)